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Manila Bulletin devider Business devider The Stock Market devider SM Prime starts ₱7-billion Megamall redevelopment, expansion

SM Prime starts ₱7-billion Megamall redevelopment, expansion

Published Aug 12, 2025 09:50 am
SM Prime Holdings Inc. (SM Prime), the Sy family’s property development company, is investing ₱7 billion to redevelop and further expand SM Megamall, one of the Philippines’ most iconic malls, with phased completion targeted between 2027 and 2029.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said the project is designed to elevate the customer experience while embedding long-term sustainability measures across the property.
Designed by United Kingdom (UK)-based architectural firm Benoy—known for developments like Jewel Changi in Singapore and Icon Siam in Thailand—the new SM Megamall will adopt a “Crystal Islands” concept, emphasizing natural light, open flow, and organic forms.
The redevelopment will add 20,000 square meters (sqm) of gross leasable area (GLA) and introduce nature-inspired architecture, improved mobility features, and energy-efficient systems.
The addition of themed retail zones and intuitive wayfinding is designed to make the mall more accessible, while encouraging visitors to explore and discover new experiences throughout the expansive complex.
Operational upgrades include a new four-level basement parking facility with over 1,600 slots, expanded walkways and ceilings, and improved circulation through wider corridors and modernized vertical transport.
The redevelopment also includes relocated state-of-the-art cinemas, a new Megatrade Hall, a redesigned food court, and upgraded common areas and restrooms.
Sustainability features are integral to the redevelopment blueprint. A rainwater harvesting system with a 500-cubic-meter capacity will support water conservation, while upgrades to the mall’s mechanical systems are expected to reduce overall energy consumption.
ETFE roofing will be used to let in natural light and reduce cooling costs, while skylights and clerestory windows will minimize artificial lighting.
As with existing areas, energy-efficient LED lighting and sensor-activated escalators will deliver up to 50 percent and 30 percent energy savings, respectively.
Solar panel installations are also under evaluation as part of SM Prime’s broader carbon reduction efforts.
SM Megamall has been serving millions annually and anchoring the Mandaluyong central business district. With this redevelopment, SM Prime is reasserting its leadership in sustainable mall development, positioning SM Megamall for the next decade of growth.

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SM Prime Holdings Inc. SM Megamall
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